Chinese conglomerate HNA Group is in talks to buy a controlling ownership stake in Forbes Media, Reuters reported. HNA has also agreed to acquire Trump advisor Anthony Scaramucci's stake in his hedge fund Skybridge Capital. HNA is ranked 353rd in the 2016 Fortune Global list of the world's 500 biggest companies. The Forbes deal is said to be worth at least $400 million. Three years ago, Integrated Whale took a majority stake in Forbes Media in a transaction valued at roughly $475 million. Scaramucci is under pressure to demonstrate that he is free of conflicts of interest if he is going to join the Trump administration. Scaramucci's effort to take the position was thwarted soon after The New York Times (NYT) ran a front-page article on February 1 about HNA's ties to the Chinese government.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.